Visit us in three convenient locations!

LIBERTY OFFICE
5 Triangle Road
Liberty, NY 12754-3305
Phone: (845)292-6333
Fax: (845)292-6020
Toll Free 800 779-7589
 map | e-mail

BETHEL OFFICE
1100 Route 17B
Mongaup Valley, NY 12762
Phone: (845) 583-5550
Fax: (845) 583-5520
Toll Free 877 587-6333
 map | e-mail

ROCK HILL OFFICE
244 Rock Hill Drive
Rock Hill, NY 12775
Phone: (845) 794-7814
Fax: (845) 794-7862
Toll Free 877 500-6333
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BEST SOURCE FOR HOMES

If you have been looking for a home to purchase and assumed that the home of your dreams would pop up in the newspaper ads, you’d be mistaken.

A recent survey by the NAR (National Association of Realtors) revealed that only 8% of buyers find their homes through newspaper advertising. 15% find their home through “For Sale” signs, 3% by knowing the seller, 1% from magazine ads and 4% from other sources. The vast majority of buyers, 64%, find their homes through Real Estate Professionals. Of course, most of the real estate advertising and signage is done by real estate agencies. So, in the final analysis, 95% of buyers will coordinate their purchase through a Realtor.

The key to successful house hunting more often begins with finding the right agent and not the right real estate ad. In fact, your broker will probably have many homes for sale that may never appear in ads or have signs placed in their front yard. It make sense to use this time-saving approach.

Learn about Yeager Realty Associates


THE IMPORTANCE OF LOCATION

Any Realtor will tell you that the three most important factors concerning the value of a house are “Location, Location, and Location”. Unfortunately, most home buyers ignore this important advice.

Location is especially vital when buying a house for maximum resale value. Statistics say that you will be reselling your home long before the final mortgage payment is in the mail. Therefore, take a long, hard look, not only at the present, but the future prospects for the community and immediate neighborhood.

Select a location where raw land and house values have an increasing price trend. Especially check into the zoning laws for any unfavorable change which could cause a depreciation in the value of the neighborhood and the resale price of your home in the near future.

Remember, you can remove, replace or remodel a house, but you can never change the location. So choose carefully.
 



BUYING


A HOME OR PROPERTY

 
AN OFFER THE SELLER CAN’T REFUSE

Most people assume that the highest bidder will always get the nod from a home seller, but in many situations this is not the case. The highest bidder does not always win. A smart seller will often accept a lower offer from someone who is certain to qualify for a mortgage rather than worry about a financially shaky buyer who might not even qualify for a loan to consummate the sale.
If the market is one where homes don’t stay available for even a short time at the asking price, the buyer might want to make sure his offer is one that will be hard to refuse. For example, sellers are very impressed if you can strike the finance contingency clause from the contract. (This is the clause that releases the buyer from the contract without losing the deposit if the buyer cannot qualify for a mortgage.) However, do not even CONSIDER scratching the mortgage contingency clause unless you have the cash on hand to complete the transaction.


HIRING A HOME INSPECTOR

Since many buyers are not familiar with the systems and structure of a home, we suggest that buyers weigh the benefits of having a professional building inspector examine the home they are considering buying. A professional inspector will make a careful check of all items of construction and will render opinions as to its condition and needed repair or replacement.

In most homes, even brand new ones, all the systems (heating, plumbing, electrical, etc.) are seldom in perfect condition. However, they may be quite adequate for enjoyable living. Structural problems, as well, may be a matter of degree; for example, some roofs might require only minor repairs, while others may need replacing.

It is important to accompany the inspector to hear his/her comments first-hand and discover which items need attention immediately and which ones are likely to need attention in the future. You will want to ask the inspector whether all necessary work needs to be done at once or whether it can be accomplished over a long period of time.

Remember that some inspectors are inclined to list almost everything that could possibly cause a problem in order that they not be considered remiss at some future date.


OVER OR UNDER-SPENDING

Some people spend more than they can afford when buying a home. Equally painful is the mistake of buying the cheapest possible house and then suffering through its shortcomings.

I have no intention of stating how much anyone can afford for a house. This is a very personal decision. There are guidelines of monthly averages that lending institutions use for housing expenses. But, like the “height/weight” charts printed on scales, these are only averages.

Don’t hold back if you feel you can exceed the guidelines. When you are willing and sufficiently disciplined to economize on other expenses, you can get a better house than the average calls for. A good house may seem costly, but the rewards are well worth it. Investing in a house that’s a little more expensive gives you an excellent inflation hedge while your whole family enjoys a better place to live. And often, the resale opportunity is brighter.





Mortgage News
Courtesy of QuickenLoans.com

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